研究生英语教材---熟谙课文原文 第二课.docx

Text 2Family Business: the Next GenerationIDavid ZaudtkeDoug AmmermanA merica is in the midst of one of the greatest wealth transfersin the history of mankind. Over the next 20 years, an estimated$15 trilfion in assets will be transferred from one generation to the next.Para1Much of this wealth transfer will be in the form of family·ownecdbusinesses. Butthe viability of many of these transfers is questionable.The fact is, most will fail. Typically, only one out of three businessesis successfully transferred to the second generation. Survlval of afamily business into the third generation is a rare occurrence.Para2Thousands of family businesses, some of the household names, willdisappear over the next decade. The sad part is that many of thenn could survive with proper planning. For many, however, it may already be too late. The. proper time to start planning the succession of a famiry business is not one, not three, not even five years aheadl. Indeed, a comprehensive succession plan, which includes sophisticated estate planning strategies, generally requires at leasita 10 year horizon to be properly structured.Para3Whetherlarge or small,high tech or low,public or private, every famiJy,Mowned business is different. But regardless of how diverse they are,, four key elements must- be in place before a business can besuccessf uHy passed from one generation to another.Para4IUnit TwoFamily Business: the Next GenerationPlan Your Succes.slon ManagementOwners/founders are extremely driven and dynamic. Often they excel at more than one skill. In many cases, production experts are also marketing geniuses or skitled financiers. Replacingthem may require more than one person. Therefore, family business owners sh10l!lld determine exactly how the business f unctions by creattin;g organizational charts. Each key member of the succession process should create his or her own chart. These charts should then tll.ecompared. The differences wm point to gaps in the management